Copper

[Sean K]

Copper spikes and I go WTF?

View attachment 203354
Then I read. . .
View attachment 203355View attachment 203356
Yep, that'll do it.

I wonder if this is just going to be a short term thing until he changes his mind tomorrow?

Copper prices rocket 11% higher in mad scramble following tariff threat: Is silver next to explode?

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

 

[finicky]

Portfolio Positioning: The ASX shrugs off no rate cut in just a few hours! - Market Matters

Portfolio Positioning: The ASX shrugs off no rate cut in just a few hours! Market Matters - ASX buy recommendations

marketmatters.com.au

Copper ($US)​

The copper (Cu) market exploded higher overnight after President Trump said he would impose a 50% tariff on copper. This briefly sent the industrial metal up 17% to a record high before settling up 9%. Copper miners rallied on the news, but in a far more subdued fashion. Trump’s comments, which came during a meeting with reporters on Tuesday, caused a record one-day spike in the New York contracts and left them trading at an unprecedented 25% premium to equivalent futures in London – “I believe the tariff on copper, we’re going to make it 50%,” Trump said. Speaking later on Tuesday, Commerce Secretary Howard Lutnick said the copper tariffs will be implemented in July or August.

Trump’s announcement was not out of left field, but clearly wasn’t priced into the market, which is critical for global electrification. We’ve been bullish on Cu targeting the $US5.50 and $US6.00 levels in the months/years ahead, we didn’t expect it to unfold in one night! In the long run, this should be good news for ASX miners with exposure to Cu, from Sandfire (SFR) to Evolution (EVN) and BHP.

• We can see copper consolidating in a volatile fashion around the $US5.50 area as the market weighs up Trump’s threats against reality.

WIRE
MM is bullish towards copper in the medium term

 

[Captain_Chaza]

SFR has only Given back what She gave us Yesterday So far So Good

Do you think Trump will put a 50% Tariff on GOLD ?

 

[countrylad]

My copper stocks DVP and AQD are not responding in kind to the price hike

 

[finicky]

BHP, RIO not responding.
Nor is Carnaby Resources (CNB) despite seemingly positive announcement today.
Guess it could've been getting a bit stretched in its rally though ..
(Not Held)

 

[peter2]

US copper miners went up, Canadian's went down. BHP, SFR steady. Spec copper explorers ticked up.

It's going to be a few years before the large US Resolution copper mine starts producing. Trump's thrown a grenade into the copper marketplace and we're waiting to see if it explodes or is just another dud. I'm buying the TACO on this one.

 

[rederob]

Copper spikes and I go WTF?

View attachment 203354
Then I read. . .
View attachment 203355View attachment 203356
Yep, that'll do it.

Just adding the last 10 years of copper price action for a better perspective to see that we are entering a new price paradigm:



If America thinks it can bring back manufacturing when it's already a high cost producer, the likelihood of that happening as it adds to its import cost through tariffs, is negligible.

 

[rederob]

News reports yesterday suggested Australia's larger copper miners were hit in some part by Trump's tariffs on copper.
Whatever headline or thought you want to carry regarding copper tariffs affecting our miners, bear in mind that our copper exports to America are so comparatively low as to be inconsequential. Last year the export value of our copper to America was under $40M:


Contrast this with Australia's copper exports to China to 2024 which were valued at approximately US$1.64 billion. This figure includes refined copper and copper alloys, copper waste and scrap, and other copper products. China is the major destination for Australian copper.

 

[farmerge]

News reports yesterday suggested Australia's larger copper miners were hit in some part by Trump's tariffs on copper.
Whatever headline or thought you want to carry regarding copper tariffs affecting our miners, bear in mind that our copper exports to America are so comparatively low as to be inconsequential. Last year the export value of our copper to America was under $40M:
View attachment 203455

Contrast this with Australia's copper exports to China to 2024 which were valued at approximately US$1.64 billion. This figure includes refined copper and copper alloys, copper waste and scrap, and other copper products. China is the major destination for Australian copper.

Sooner or later The Trumpet will be reined in.
I cannot see how the American end user will not be paying more because of his policies on the run.

 

[Sean K]

Investopedia might need to include this into their definition of a pennant.

Will obviously break down now...

Pennant Chart Pattern: A Guide to Continuation Signals in Technical Analysis

Learn how pennant patterns in technical analysis indicate continuation, featuring structure, volume dynamics, entry points, and potential pitfalls for traders.

www.investopedia.com

 

[Sean K]

At this point it looks more likely to hold up than break down, but that was a huge pole last week. Just holding above 5 bucks will be very good for copper. I don't think the stocks are really responding to this new paradigm as yet. If $5 is a new base it sould be significant for everyone from the majors to penny explorers.

Not a bad article in Stockhead that covers a number of ASX copper players at various stages that might provide some ideas or at least a watchlist.

ASX Copper Tier List: Australian copper stocks to play the rising tide - Stockhead

It's a common refrain – I can't find copper on the ASX – but we've found close to 30 with development hopes in Australia alone.

stockhead.com.au

Latest info from Trading Economics.

 

[Sean K]

If we had some higher quality pure Cu stocks on the ASX they'd be going nuts off this. But, copper doesn't seem to work that way. And we have very little on the ASX.

 

[Captain_Chaza]

They all get Taken Over! The Bigger the Better !

That is why I have 3 x SFRs
I never want them to be taken over because it usually only represents a~ 50 % gain

Salute and Gods' Speed

 

[qldfrog]

How a New Jersey startup found an electrifying way to slash copper costs | TechCrunch

Still Bright is now loaded up with $18.7 million in seed money to build out its demonstration unit.

techcrunch.com

Meanwhile my SL activated on my copper etf after last night reversal in the US

 

[Sean K]

How a New Jersey startup found an electrifying way to slash copper costs | TechCrunch

Still Bright is now loaded up with $18.7 million in seed money to build out its demonstration unit.

techcrunch.com

Meanwhile my SL activated on my copper etf after last night reversal in the US

Looks like everyone's SLs were triggered.

 

[Dona Ferentes]

Pres. Trump is imposing a 50% tariff on imports of copper semi-finished products and derivatives, citing national security concerns.

 

[peter2]

More volatility to come. As an essential element in the electrification industry copper prices won't stay this low for long.

 

[Sean K]

All sorts of technical damage here. Longer term fundamentals haven't changed though.

 

[peter2]

Low copper prices will prevent new mines being developed. This will only exacerbate the copper shortage in the next few years. I'm a buyer of copper not copper miners if the price goes a little lower.

 

[JohnDe]

Low copper prices will prevent new mines being developed. This will only exacerbate the copper shortage in the next few years. I'm a buyer of copper not copper miners if the price goes a little lower.

As a holder of Copper ETF's, I wish that was true b I have heard and read that many times over the past 30+ years. Copper prices grow but they never really explode like a rocket.